India's textile industry forecast to grow 240% b - sportstextiles: Lea SportsTextiles

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India's textile industry forecast to grow 240% by 2021

11/10/2012
India's textile and apparel industry size is projected to grow at a compound annual growth rate of 9.5% to reach $223 billion by 2021, according to the Federation of Indian Chambers of Commerce and Industry (FICCI).

The industry was valued at $89 billion last year.

It forecasts India’s share in world textile and garment exports to rise to 8% by 2020 from the present 4.5% share, partly due to rising wages in China.

Apparel exports contribute the most to the overall exports in terms of value, followed by contributions from fibre, yarn and fabrics.

The figures were contained in a white paper released at conference in Mumbai this week, published by Technopak Advisors on behalf of FICCI.

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